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North America
CNBC Finance

Delta delays debut of Saudi Arabia service until March after Riyadh airport attacks

Delta Air Lines said it will delay the launch of its nonstop service between Atlanta and the Saudi capital Riyadh until March after several deadly attacks hit the city's airport there. Delta planned to begin the route on Oct. 23, with an Airbus A350-900 wide-body plane, in what would have marked the first nonstop commercial flight between the U.S. and Saudi Arabia operated by a U.S. airline. Since Thursday, more than 2,000 flights have been canceled to and from King Khalid International Airport in Riyadh, according to FlightAware. The deadly attacks, claimed by Yemen's Iran-backed Houthis, escalated Saturday, when a projectile struck a passenger terminal at the airport, officials said, killing at least 12 people and wounding more than 300. "We remain in close contact with relevant government and aviation partners, including Saudia and Riyadh Air, as we monitor the situation," Delta said in a statement. "Saudi Arabia remains an important market for Delta, and we are committed to serving the Kingdom for the long-term." Delta CEO Ed Bastian had told CNBC on Thursday that the airline hadn't yet decided whether to postpone the debut. "Obviously, we were disappointed to see the news this week," he said. "Safety is going to make the call." Delta's decision came after the Federal Aviation Administration on Sunday issued a warning for U.S. airlines. The FAA said pilots should "exercise caution" in or around Saudi Arabia "due to safety-of-flight risks associated with ongoing military activities" and navigation systems. In the warning, which is in effect until Dec. 10, the agency said the threats could be a potential risk "to aircraft at all altitudes." Airlines suspended flights to the airport, some for the rest of the week, while countries including the U.S. and Australia advised citizens against travel to the region. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Delta delays debut of Saudi Arabia service until March after Riyadh airport attacks
Europe
BBC Business

UK growth upgraded but energy prices and rates to bite in 2027

Image source, Getty ImagesByFaisal Islam, Economics editor, Reporting fromBangkok and Michael Race, Business reporter, Reporting fromLondonPublished13 October 2026, 03:00 BSTUpdated 36 minutes agoThe UK economy is forecast to grow by more than previously expected this year before higher energy prices and interest rates hit growth in 2027, the International Monetary Fund (IMF) has said. The organisation's latest report, which is closely watched by the government, said the UK economy would expand by 1.3% in 2026, up from the 1% it predicted in July, before slowing in 2027. Economies across the world have proved more resilient to the energy price shock caused by the US-Iran war, the IMF said, but it warned the economic fallout from the conflict remained "highly uncertain". Chancellor John Healey said the government would look to "provide some breathing space" for households in the Budget. Healey is making the final preparations to Andy Burnham's new-look government's tax and spending plans, which will be announced on 28 October. Government borrowing costs have surged, placing pressure on the chancellor to ensure his plans are credible in the eyes of financial markets, which the UK relies on to borrow money. But IMF Chief Economist Silvana Tenreyro told BBC News on Tuesday that the UK's process of managing its debts is now leading the major G7 economies. "As you know, the UK has already started the consolidation process and it is the country that basically stands out, along with India", she said at the launch of the IMF's new global forecast, the World Economic Outlook. The organisation said the UK is one of the only major economies on course to stabilise levels of national debt. It projects the UK will reduce its annual borrowing by nearly four percentage points of GDP from 2025 to 2031, significantly more than the rest of the G7, many of which are increasing their deficit over this time period. The UK is also projected to have the lowest annual borrowing in the G7 in 2031, and the longest maturity of debt, locking in lower rates for longer. Asked if the UK was one of the countries the IMF was telling to reduce borrowing, Tenreyro said that the country had begun the process already and should "stay the course". The head of the IMF has previously called on the world's advanced economies to cut borrowing and reduce debt levels.

UK growth upgraded but energy prices and rates to bite in 2027
Asia
NDTV Profit

Funeral Turns Deadly In Jordan As Gunmen Storm Church, Kill Six And 28 Injured

At least six people were killed and 28 others injured after gunmen opened fire on mourners attending a funeral at a church in Jordan's Karak governorate on Friday. The deadly assault prompted a strong response from King Abdullah II, who vowed severe action against those responsible. The shooting occurred in the village of Hmoud, where dozens of people had gathered for a funeral service. According to initial reports, armed attackers arrived in a vehicle, approached the church and opened fire before fleeing the scene. Government spokesperson Mohammad Al-Momani condemned the violence as a "heinous attack", while security agencies launched an investigation into the shooting. Reacting to the attack, King Abdullah II issued a strongly worded statement on X, warning that those attempting to destabilise Jordan would face serious consequences. The terrorist attack against Karak will be met with the harshest retaliation. Those who delude themselves into thinking that they can divide Jordanians with their bullets have no chance in the face of our unity. All Jordanians, from north to south, are partners in land and fate, and nothing stands between them. Our deepest condolences to the families of the martyrs and we wish a speedy recovery to those injured. Every Jordanian life is precious, and we will strike with an iron fist against those who dare to threaten our nation "The terrorist attack against Karak will be met with the harshest retaliation. Those who delude themselves into thinking that they can divide Jordanians with their bullets have no chance in the face of our unity. All Jordanians, from north to south, are partners in land and fate, and nothing stands between them. Our deepest condolences to the families of the martyrs and we wish a speedy recovery to those injured," the monarch wrote. He concluded his message with another warning to those threatening the country's security. "Every Jordanian life is precious, and we will strike with an iron fist against those who dare to threaten our nation," he added. The King's statement reaffirmed national solidarity following the violence and expressed condolences to the families of those killed. Khaled Burqan, one of the mourners, told Jordan's state-run Al-Mamlaka television that dozens of people were inside the church when the attack began. According to his account, two attackers armed with a rifle and a pistol fired at mourners for several minutes. Separately, CCTV footage verified by the BBC appeared to show three armed men approaching the church from a nearby road. Two individuals were seen moving towards what appeared to be an entrance for vehicles before briefly retreating and returning with a third person. All three appeared to be carrying handguns. The shooting has raised fresh security concerns in Jordan, where attacks targeting religious gatherings are uncommon. Karak, located south of the capital Amman, has a longstanding Christian community and is known for its religious and historical significance. The region previously witnessed a major terrorist attack in December 2016, when gunmen targeted security personnel and civilians near Karak's historic castle.

Funeral Turns Deadly In Jordan As Gunmen Storm Church, Kill Six And 28 Injured
North America
CNBC Economy

Nobel prize in economics awarded to Robert E. Hall and Michael Woodford

Robert E. Hall and Michael Woodford were on Monday awarded the Nobel prize in economics for work that underpins the models used by central banks and governments to "smooth out" periods of boom and bust. The U.S.-born pair were jointly awarded for their contribution to the "microeconomic foundations" that contribute to macroeconomic stability. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was established by Sweden's central bank in 1968. The winners will split a 12 million Swedish kronor ($1.2 million) prize. Hall, born in California, is a professor at Stanford University, while Massachusetts-born Woodford is a professor at Columbia University. "With them, we are better equipped to deal with shocks in the economy, such as energy crises or sudden changes in how much households consume," John Hassler, chair of the Committee for the Prize in Economic Sciences, said in a statement. Instead of just looking at macroeconomic variables such as inflation, production and consumption, Hall and Woodford showed how the combined effect of individual households and businesses affects the economy through their forward-looking decision making, the Royal Swedish Academy of Sciences said in a statement. They also demonstrated how central bank and government communications "influence this view of the future and move the economy in the right direction," the Academy said. "On the basis of these models, well-timed fiscal and monetary policy measures can reduce the economy's peaks and troughs," the Academy added. "Since the new models' introduction, they have been extremely helpful in dealing with the economic downturns that have affected us." The economics memorial prize is the last to be announced, following the original Nobels in Physiology or Medicine, Physics, Chemistry, Literature and Peace. This year's laureates include Navanethem "Navi" Pillay, who was awarded the Nobel Peace Prize on Friday for her work promoting peace and international law, and Canadian poet and writer Anne Carson, who won the Literature prize for a "bold and inventive oeuvre." Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Nobel prize in economics awarded to Robert E. Hall and Michael Woodford
Europe
BBC Business

Watch: Did Tesla really just unveil a flying car?

A new version of Tesla's Roadster electric sports car, equipped with thrusters which apparently allow it to hover and turn in mid-air, has been unveiled in Texas. "You're going to see some crazy stuff tonight," the car firm's CEO Elon Musk said as he presented the vehicle at a facility owned by his SpaceX company, which helped develop the model. Musk said an audience was needed to prove the car "is not AI", before showing a demonstration of the Roadster driving up and off a steep ramp, spinning in the air, and landing using air jets. But there are several reasons we're unlikely to see a flying car on our roads anytime soon, as the BBC's technology editor Zoe Kleinman explains.

Watch: Did Tesla really just unveil a flying car?
North America
Yahoo Finance

S&P 500 Profits Set to Surge More Than 30% in Q3 With AI Giants Dominating Growth

Matias Civita Published 10/12/26 AT 6:26 AM EDT Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Earnings for S&P 500 companies are expected to jump approximately 31% in the third quarter compared with the same quarter a year earlier, with nearly two-thirds of that increase coming from AI-focused companies. Getty Images U.S. corporate profits are heading for another blockbuster quarter, but much of Wall Street's anticipated earnings growth is coming from the technology giants riding the artificial intelligence boom. Analysts expect earnings for companies in the S&P 500 to jump approximately 31% in the third quarter compared with a year earlier. Nearly two-thirds of that projected increase is expected to come from the technology sector and AI-focused companies, including Alphabet, Amazon and Meta Platforms. However, there is a growing concern among investors about what happens to the broader market if the AI earnings boom begins to slow. Technology stocks helped push the S&P 500 to a record high this week, just days before the third-quarter earnings season is expected to begin with reports from major financial institutions, including JPMorgan Chase and Goldman Sachs. Investors have poured money into businesses developing AI models, building the infrastructure needed to run them and incorporating the technology into their existing products and services. The technology sector is not the only industry expected to report substantial profit growth. Energy companies are projected to post a roughly 115% increase in third-quarter earnings compared with the same period last year, according to Reuters. The gains reflect sharply higher oil prices amid the ongoing U.S.-Israeli war with Iran, which helped push American crude prices approximately 30% higher during the quarter. But the picture is considerably less encouraging outside technology and energy. Consumer staples and real estate are among the sectors expected to report the weakest year-over-year earnings growth, highlighting the uneven distribution of corporate America's anticipated profit gains. "Almost as telling is if you look at the sectors that are not related to AI at all," Samana said, pointing specifically to those industries. The third-quarter projections also follow an extraordinary second quarter that may prove difficult to surpass. S&P 500 earnings surged nearly 54% from a year earlier during the April-to-June period, the strongest growth since 2021, according to LSEG. That figure, however, was inflated by gains recorded by Alphabet and Amazon on investments tied to artificial intelligence. Excluding those mark-to-market gains, which reflect changes in the assessed value of investments, earnings growth was approximately 35%.

S&P 500 Profits Set to Surge More Than 30% in Q3 With AI Giants Dominating Growth
North America
CNBC Economy

Treasury's Bessent hires Trump's controversial former Fed board pick, Judy Shelton, as adviser

Judy Shelton, whose controversial economic ideas led the Senate to block her nomination to the Federal Reserve, has been appointed a counselor to Treasury Secretary Scott Bessent. The Treasury said Shelton will advise Bessent on currency policy, "with a particular focus on evaluating financial conditions in China." Shelton is not known as a China expert. She authored "Money Meltdown", about the need for a unified international monetary regime, in 1988, followed by "The Coming Soviet Crash" the next year. Prior to joining Treasury, Shelton served as a senior fellow at the Independent Institute, a free-market think tank, and, before that, at the Hoover Institution at Stanford University. She holds a Ph.D. in business administration from the University of Utah. "Throughout her career, she has specialized in analyzing the internal monetary and financial conditions of nations and their impact on exchange rates,' The Treasury said in its announcement, which will be released later Friday. A bipartisan group of Senators, including all Democrats and a handful of Republicans, rejected President Donald Trump's 2019 nomination of Shelton as a Fed governor over her views on Fed independence, her support for the gold standard and her questioning whether the U.S. needed a central bank. Her appointment comes at what looks to be a time of turmoil at Treasury regarding high-level personnel. A recent Wall Street Journal story cataloged seven Senate-confirmed officials who have left the department through the end of August. Only one position has been filled. Bessent recently named David Zervos, former chief market strategist at Jeffries, as a counselor—the same job title as Shelton. Neither Shelton nor Zervos require Senate approval. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Treasury's Bessent hires Trump's controversial former Fed board pick, Judy Shelton, as adviser
North America
Yahoo Finance

Here Are Tuesday’s Top Wall Street Analyst Research Calls: AT&T, Adobe, Albemarle, American Electric Power, Pershing Square, RTX, SoFi Technologies, Technip FMC, YETI Holdings, and More

Wall Street is reshuffling its bets ahead of earnings season, with major analysts cutting targets on AT&T, Adobe, RTX, and Pershing Square while loading up on names you might not expect. Here is what the smart money is watching on… Futures are trading mixed after a slow start to the week, ahead of the 3rd-quarter earnings season, which kicks off today with four large-cap financial stocks reporting, and for the first time in a long time, JPMorgan Chase & Company (NYSE: JPM | JPM Price Prediction) missed earnings expectations. The major indices closed mixed on Monday, as the bond market and banks were closed for the Columbus Day holiday. The Dow Jones Industrial was the only major index to close higher on Monday, finishing the day at 51,850, up 0.38%. The Nasdaq closed Monday at 27,245, down 0.44%, while the small-cap Russell 2000 ended the session at 2,796, down 0.37%. The S&P 500 closed just lower at 7,807, down just 0.06%. This followed the venerable index’s first close above the 7,800 level last Friday. Again, the market was closed on Monday for the holiday. The 30-year Treasury closed last Friday at 5.60%, while the 10-year note ended last week at 5.24%. Oil prices were higher on Monday following the Houthi attack on the Riyadh Airport on Saturday, which killed 13 and wounded over 300 when missiles struck a departure terminal. This comes as OPEC+ sees demand rebounding. Brent Crude finished Monday’s session at $106, up 1.30%, while West Texas Intermediate was last seen at $93.21, up 1.48%. Natural gas closed the session at $3.16, down 1.65%. Gold started the week lower as a stronger dollar, rising energy prices, and traders’ anxiety over upcoming inflation brought out the sellers. At the final bell, bullion was priced at $4,169, down 0.59%, while Silver closed at $60.12, down 0.59%. One thing we did learn on Monday is that China continues to buy the precious metal at a furious pace, and many think that trend will continue. The cryptocurrency market modestly recovered Monday, steadying after severe mid-week macro pressures and massive derivative liquidations. Early Friday trading was heavily impacted by the aftermath of nearly $1 billion in market-wide liquidations triggered on Thursday. Over-leveraged long positions were wiped out as Bitcoin hit an intraday low of $80,400. However, strong physical buying interest returned on Friday and again yesterday, pushing prices back up. At 8 AM, Bitcoin was trading at $83,360, while Ethereum was quoted at $2,503. 24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock. Here are some of the top Wall Street analyst upgrades, downgrades, and initiations from Tuesday, October 13, 2026. Lee Jackson has covered Wall Street analysts' equity and debt research and equity strategy daily for 24/7 Wall St. since 2012. His broad, diverse career, including a stint as creative services director at an NBC affiliate in Austin, Texas, gives him unique insight into the financial industry. Lee Jackson's journey in the financial industry spans more than 30 years, including nearly two decades as an institutional equity salesperson at Bear Stearns, Lehman Brothers, and Morgan Stanley. His career spanned pivotal sell-side Wall Street events, from the dot-com rise and bubble to the Long-Term Capital Management debacle, 9/11, and the Great Recession of 2008. This reflects his resilience and adaptability amid market volatility. Lee Jackson’s practical financial industry experience, gained through a career at some of the biggest banks and brokerage firms, is complemented by a lifetime of writing across various platforms. This unique combination allows him to shed light on the intricacies of Wall Street in a way only someone with deep insider experience and knowledge can. Moreover, his extensive network across Wall Street continues to provide direct access for him and 24/7 Wall St., a privilege few firms enjoy. Since 2012, Jackson’s work for 24/7 Wall St. has been featured in Barron’s, Yahoo Finance, MarketWatch, Business Insider, TradingView, Real Money, The Street, Seeking Alpha, Benzinga, and other media outlets. He attended the prestigious Cranbrook Schools in Bloomfield Hills, Michigan, and has a degree in broadcasting from the Specs Howard School of Media Arts.

Here Are Tuesday’s Top Wall Street Analyst Research Calls: AT&T, Adobe, Albemarle, American Electric Power, Pershing Square, RTX, SoFi Technologies, Technip FMC, YETI Holdings, and More
Europe
BBC Business

Banks say Healey is planning Budget tax raid on their profits

Image source, Sirachai Arunrugstichai/Bloomberg via Getty ImagesBySimon JackBusiness editorPublished15 October 2026Senior banking executives have told the BBC they expect the sector to be "on the menu" when the chancellor announces his Budget in two weeks' time. John Healey has described the banks as part of "the crown jewels" of the UK economy, yet has refused to rule out a raid on the sector. The biggest four banks collectively made around £15bn profit in the first six months of this year, leading to calls from trade unions and others for additional taxes. However, the banking sector trade body, UK Finance, warned that "further increases in bank taxes would weaken competitiveness, discourage investment and job creation, and work against the government's ambition to deliver growth in every postcode". The UK's biggest banks and building societies currently pay a surcharge of 3% on top of the baseline 25% rate of corporation tax, plus a levy on the assets held on their balance sheets. The sector contributed nearly £40bn to the Treasury last year, if income tax on employees is factored in. There are a number of ways the chancellor could extract more money from the sector. The 3% surcharge was reduced from 8% under Rishi Sunak, at the same time as he raised corporation tax from 19% to 25%. Returning the surcharge to its previous level could raise around £2bn a year. The bank levy currently charges 0.1% on outstanding short-term loans and 0.05% on longer-dated loans, although mortgages are excluded from the calculation. In the past banks have successfully argued that higher taxes would risk making the UK uncompetitive with other jurisdictions and would reduce their ability to lend, and therefore be anti-growth. In truth, banks were pleasantly surprised they were not hit at the last Budget, given the large profits they have been making in recent years. Rising interest rates have expanded the margin between the rate at which they lend to customers and the rate they pay savers. There is another option that has been discussed with Treasury officials. Currently banks can use losses from the past to offset against profits - thereby reducing their tax bill in any given year. Lloyds in particular has been a beneficiary of this policy, as large losses from the financial crisis have been used to lower tax bills ever since.

Banks say Healey is planning Budget tax raid on their profits